Poundland Expected Sold for £1 Amid 200 Store Closures UK

Poundland, a UK discount retailer with 825 stores and over 18,000 employees, is set to be sold for a nominal fee of approximately £1 as it faces significant financial difficulties and pressured trading conditions. The sale comes amid a steep decline in like-for-like sales and the need for a major turnaround, with potential closures of around 200 loss-making stores. The retailer's current owner, Warsaw-listed Pepco, put Poundland up for sale citing challenging UK retail conditions, increased taxes, and rising operating costs. Several turnaround investors, including US-based Gordon Brothers—former owner of Laura Ashley—along with Modella Capital, Alteri, and Hilco Capital, are competing to acquire the company. The sale price reflects the anticipated investment required to restore profitability and address the retailer's substantial debt. This development signals a further blow to the UK high street as Poundland has been a staple for budget shoppers since 1990.